California’s Asian Businesses Harder Hit by Covid, Survey Finds
Asian American small businesses in Southern California experienced bigger declines in activity compared to other similarly sized enterprises in the area, as our recent survey with the Asian Business Association of Los Angeles and UCLA’s Asian American Studies Center finds.
Nearly 33% of 400 Asian American businesses surveyed said their operations more than halved during the pandemic, compared to less than 25% of Southern California small businesses overall, according to this report. Almost two-thirds of Asian respondents reported a “large negative effect” due to Covid-19 compared to about 38% of all respondents.
Lack of information about government aid in Asian languages was a common barrier, especially for first-generation propietors. Restaurants, travel agencies, nail and hair salons, accounting, and healthcare services were among those surveyed. Three out of four businesses were immigrant-owned and nearly half were owned by women. About one-third of owners were 55 or older. Most had no more than four employees, including the owner.
Access the Bloomberg article at: California’s Asian Businesses Harder Hit by Covid, Survey Finds
Access the report at: Asian American Businesses: Identifying Gaps and Supporting Recovery 2021
Covid indeed is a reason for many business downfalls. Thanks for sharing the information!